Mortgage rates for July 3, 2008.  Loan amounts up to $417,000:

3/1 ARM              5.250%
5/1 ARM              5.500%
7/1 ARM              5.625%
10/1 ARM             6.000% 

All rates offered to the borrower with 1 point cost.  Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification.  Rates are subject to fluctuation.  Custom rate quotes and fixed rate mortgages are available by calling at the number below..

AMERICA's MORTGAGE RATE TREND:

Next 7 days:       Slightly Lower

Next 30 days:      Neutral 

Next 3 months:    Higher

Brian Brady
(858)-777-9751
Apply for a loan online

 

9 Comments on America's #1 Mortgage Rates Report: July 3, 2008

JUL
03
2008
212,292 Points 12 Featured Posts Localism Sponsor Outside Blog

You're the best.  Thanks for the referral.  You're on target when they ask if I'm willing to work like a bloodhound!  Take care,

 
4:13pm • #1
242,419 Points 98 Featured Posts Outside Blog

Good luck with that, Tracy
4:14pm • #2
178,802 Points 5 Featured Posts Outside Blog

Great Job Brian like always. Now, if one has a credit of say 680, what would the interest rate be?  I enjoy your blogs.  
5:58pm • #3
242,419 Points 98 Featured Posts Outside Blog

Thanks, Lloyd.  A 680 score would add a .25 discount fee to that rate.  This means that a 5/1 ARM would cost 1.25% to the customer in upfront "points" instead of 1.0%
7:20pm • #4
JUL
06
2008

Hi Brian

You are the first person that makes some sense to me. I am trying to decide between two lenders who are basically not giving me any indicator or help as to where the market is going!

We have offered and after a good home inspection, we are going to settle on July 31st.  What would you recommend.  Should we lock in the rate or should we float?  Would you recommend a period in the next three weeks when we should lock?  We are looking at 30 year FHA loan.  Thank you so much!

 

Raza
Raza
9:56pm • #5
242,419 Points 98 Featured Posts Outside Blog

Raza:

Look to lock this week.  6.25% with 1% origination fee should be your target

 
11:08pm • #6
JUL
07
2008

Wow Brian!  That was super fast.   I am working with two lenders.  Both have quoted 0 for origination fee.  Is origination fee same thing as discoount points?    One of them quoted 6.500% interest rate and the other one 6.250% three days back prior to Job Reports.

What should I REALLY look for when comparing thier two GFE?  I have not locked the rates yet.


Thanks again so much Brian!

 

Raza
Raza
7:23am • #7

Brian,  I forgot to ask if it is appropriate for me to show a lender the other lender's GFE?  Is there a wiggle room for the lender.  Again, both lenders quoted me with 0 for loan origination fee and 0.00% for loan discount.   Thanks so much!  Raza
Raza
7:34am • #8
242,419 Points 98 Featured Posts Outside Blog

Call me, Raza- I'm glad to help you
11:00am • #9

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Brian Brady- America's VA Home Loan Broker

San Diego, CA

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America's #1 Mortgage Broker/858-777-9751

Address: San Diego, CA

Office Phone: (858) 777-9751

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